Looking for a property to purchase is an exciting time and it’s easy to get carried away with the fun part of buying a property. But delaying the task of arranging finance will only weaken your negotiating position and lessen your chances for success.
So, get your finance pre-approved before you go property shopping.
Here’s what to do:
- Get your finances organised and speak with your Mortgage Broker.
- Ensure you have your deposit in place with evidence of regular savings.
- Put together the most recent tax returns, payslips, bank statements, and other documents.
- Make sure your credit cards and other loans are up to date and in good order.
- Always pay your bills and accounts on time.
- Check that your credit score rating is healthy and free from red flags.
- Ask your broker to apply for pre-approval with a lender, so you know how much you can afford to borrow.
By arranging finance before finding the perfect property you will put yourself in a good position when making an offer. As you will present to the seller and estate agent as a prepared applicant who is serious and reliable.
It shows you mean business and gives them peace of mind that your financing will not fall through. Plus, sellers are most interested in completing their sale fuss-free and with steadfast funding. This will give you an advantage in a competitive market.
Call us to speak with one of our experienced Mortgage Brokers.